Operational Risk - Banking Exchange

How COVID-19 Is Infecting the Payment Fraud Landscape

Fraudsters have significantly expanded phishing campaigns to include COVID-19 messaging

How to Commit Stimulus Fraud

Officials have dumped an enormous amount of money into the economy in a matter of weeks. That means the environment is ripe for fraud.

Cyberattacks Growing More Sophisticated, Severe, Say IT Staff

Half of IT professionals surveyed said their companies did not have enough staff or budget to adequately support cybersecurity efforts

How Financial Institutions Can Make Their Commercial Real Estate Portfolios Crisis-Proof

Banks and credit unions need to be able to identify which of the loans in their portfolios are at risk of default, so that they can proactively address that risk

ABA Offers Advice ‘Matrix’ for Banks Reopening Branches

Some states are phasing out stay-at-home orders and allowing businesses to reopen after nearly two months of lockdown

Class Action Lawsuits Attack Banks' Implementation of CARES Act Lending Program

Bank of America was sued by plaintiffs alleging that the bank violated the CARES Act by prioritizing borrowers with existing lending relationships and did not allow applicants without such relationships…

Cost of Compliance Expected to Hit $181bn

Complex regulations and required manpower are pushing costs higher, but fraud attempts are rising

Banks Urge Vigilance Amid Rise in Pandemic Scam Emails

Fraudsters are posing as health officials or charity workers in order to cheat people into handing over money

Don’t Delay CECL Accounting Standards, Argues Rating Agency

Banks should not be pushing for a delay to new rules regarding accounting for credit losses, according to KBRA

US Banks Welcome $2trn Stimulus Package

President Donald Trump has signed into law the Coronavirus Aid, Relief, and Economic Security Act. The details will help keep the banking industry stable.